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the deadlines we're facing on taxes and deficits. these deadlines are going to be coming up very soon in the coming weeks. but today's important because i want to make sure everybody understands this debate is not just about numbers. it's a set of major decisions that are going to affect millions of families all across this country in very significant ways. and their voices, the voices of the american people, have to be part of this debate. and so i asked some friends of mine here to join me, some folks from here in the area. our ultimate goal is an agreement that gets our long-term deficit under control in a way that is fair and balanced. that kind of agreement would be good for our businesses, it would be good for our economy, it would be good for our children's future. and i believe that both parties can agree on a framework that does that in the coming weeks. in fact, my hope is to get this done before christmas. but -- the place where we already have in theory at least complete agreement, right now, is on middle-class taxes. and as i've said before, we have two choices. if congre
. >>> what do you do when they're screaming for entitlement reform on the right, demanding more tax revenue on the left and only a very small stretch of common ground? take it to the people. for the next two days the president is at the white house sitting down with small business leaders. tomorrow he will host middle-class americans who say they can't afford to see their taxes go up. >> if you take away the $2200 from my paycheck it will severely impact my family. >> it begins again with this question of fairness. everybody needs to pull their fair share. >> and on friday he'll return to the stump speaking at a manufacturing plant in pennsylvania. the message is clear, president obama's number one priority is ensure that tax cuts for middle-class families are preserved and tax rates for the wealthy expire. according to warren buffet that idea is already being accepted across the country. >> there's a general feeling among the general public and congress, that the rich like me have been getting away with low tax rates and time to make the tax rates more progressive. >> while the president s
the economic recovery. obama's plan includes lower taxes on the first $250,000 earned by every american and tweaking the alternative minimum tax. the white house report estimates that consumer spending would fall by $200 million. now that's more than three times what consumers spent just over this entire holiday weekend. there could be a drag on a range of industries from cars and housing to restaurants and supermarkets, if congress can't reach a deal. and look, pocketbook issues are not the only problem here. carl levin, the democratic senator and chair of the armed services committee said automatic cuts to government spending could impact public safety. >> i think you should be worried if you have a defense job and we all ought to be worried whether we are dependent upon other aspects of the federal budget. whether we're worried about the regulation of our food safety, whether we're worried about our borders being secure, whether we're worried about fbi being supported, it's all affected by sequestration. >> joining me now, cnbc washington reporter eamon javers. you heard the numbers
to raise taxes we're going to do it on everybody. that to me is fairness. i don't think anybody's taxes ought to be raised. i'm offended listening to the people responsible for this blame the american people because they're not paying enough in taxes for the problem. that's not our problem. our problem is a spending problem, first, second, third, fourth, fifth, on down to number ten. >> the countdown is on and we're 42 days from running off the so-called fiscal cliff. yesterday as you heard, rush limbaugh came down hard against raising taxes to solve this problem. he lamented the gop infighting whether to let the bush tax cuts expire on the richest americansp during a speech yesterday, federal reserve chairman ben bernanke who coined the term fiscal cliff warned of dire consequences if congress doesn't get their act together. >> spending cuts that make up the fiscal cliff absent offsetting changes would pose a substantial threat recovery. by the reckoning of the congressional budget office, the cbo, and that of many outside observers a fiscal shock of that size would send the economy to
Search Results 0 to 3 of about 4